Astika (ASKH) 10-K 3 Nov 15 2014 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014
Document and Entity Information:
Entity Registrant Name	ASTIKA HOLDINGS INC.
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Entity Central Index Key	1,511,161
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	11,077,750
Entity Public Float		$ 886,220
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	FY
Trading Symbol	askh

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Accounts receivable, net		$ 20
Total current assets		20
Other assets:
Equipment, net of depreciation		2,558
Intangible assets, net of amortization		4,733
Total other assets		7,291
Total assets		7,311
Current liabilities:
Accounts payable and accrued expenses	$ 18,615	5,963
Loan payable	1,222	1,162
Due to related parties	21,469
Total current liabilities	41,306	7,125
Total liabilities	$ 41,306	$ 7,125
Stockholders' equity (deficit)
Preferred stock value
Common stock value	$ 11,078	$ 11,078
Additional paid-in capital	112,782	112,782
Retained earnings (deficit)	(165,166)	(123,674)
Total stockholders' equity (deficit)	$ (41,306)	186
Total liabilities and stockholders' equity (deficit)		$ 7,311

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2014	Dec. 31, 2013
Balance Sheet
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	140,000,000	140,000,000
Common stock, shares issued	11,077,750	11,077,750
Common stock, shares outstanding	11,077,750	11,077,750

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Statement
Revenue		$ 1,335
Operating expenses:
Selling, general and administrative	$ 34,701	67,046
Amortization of intangible assets	344	458
Impairment of long lived assets	6,387
Total operating expenses	41,432	67,504
Operating income (loss)	(41,432)	(66,169)
Interest expense, net	60	79
Net income (loss)	$ (41,492)	$ (66,248)
Net income (loss) per share - basic and diluted	$ 0	$ (0.01)
Weighted average number of common shares outstanding - basic and diluted	11,077,750	11,077,750

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Total Stockholders' Equity (Deficit)
Beginning Balance, shares at Dec. 31, 2012	11,077,750
Beginning Balance, amount at Dec. 31, 2012	$ 11,078	$ 112,782	$ (57,426)	$ 66,434
Net income (loss) for the period			(66,248)	(66,248)
Ending Balance, shares at Dec. 31, 2013	11,077,750
Ending Balance, amount at Dec. 31, 2013	$ 11,078	112,782	(123,674)	186
Net income (loss) for the period			(41,492)	(41,492)
Ending Balance, shares at Dec. 31, 2014	11,077,750
Ending Balance, amount at Dec. 31, 2014	$ 11,078	$ 112,782	$ (165,166)	$ (41,306)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income (loss)	$ (41,492)	$ (66,248)
Adjustments to reconcile net loss to net cash used by operating activities:
Bad debt expense	20
Amortization of intangible assets	344	458
Depreciation	560	665
Impairment of long lived assets	6,387
Interest expense, net	60	79
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable		416
Increase (decrease) in accounts payable and accrued expenses	12,652	(10,562)
Net cash provided (used) by operating activities	(21,469)	(75,192)
Cash flows from investing activities
Cash paid for equipment		938
Net cash provided (used) by investing activities		(938)
Cash flows from financing activities
Borrowings on debt - related party	21,469
Repayment of debt		1,000
Net cash provided (used) by financing activities	$ 21,469	(1,000)
Net increase (decrease) in cash		(77,130)
Cash - beginning of the period		$ 77,130
Supplemental disclosures
Interest paid
Income taxes paid

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2014
Notes
Description of Business	NOTE 1 - DESCRIPTION OF BUSINESS Astika Holdings, Inc. (the “Company”, “we”, “us”, “our”), Astika Holdings, Inc., a Florida corporation. In February of 2014 the Company changed management. The new management team changed the nature of business operations from the Music Industry to focusing on the acquisition of growth companies in Asia and New Zealand. Current management is refocusing and preparing to relaunch the Company through a variety of strategic acquisitions in the textile, service, and industrial sectors to complement and capture the next wave of growth companies. Astika is focused on adding value through successful project development, efficient operations, and opportunistic acquisitions while maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions. Rapid economic growth and increased foreign investment sector companies poised for accelerated growth with national modernization are the planned centerpieces for Astika Holdings in Asia. On September 26, 2014 the company dissolved its subsidiary Astika Music Entertainment, Inc. The dissolution was in response to the change in the nature of business operations.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2014
Notes
Going Concern	NOTE 2 - GOING CONCERN The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Our President, Mr. Richards, has agreed to provide capital resources necessary for the Company to acquire strategic acquisitions in the textile, service, agricultural, and industrial sectors to complement and capture the next wave of growth companies from Asia and New Zealand. The initial planned target acquisitions from the Nantong Region in China are private companies which have been in business for over a decade with consistent track records of delivering revenue and earnings growth in the textile and service sectors. The Company also has plans for agricultural “Green Future” initiatives into the Industrial Hemp sector and New Zealand Dairy sector. The Holdings would become the primary operations and management believes that focusing our efforts on the acquisition of textile, service, agricultural, and industrial companies would represent the greatest potential for shareholder return. Rapid economic growth and increased foreign investment sector companies poised for accelerated growth with national modernization are the planned centerpieces for Astika Holdings in Asia and New Zealand. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Notes
Summary of Significant Accounting Policies	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared by the Company. The Company’s financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The financial statements of the Company include the Company and its sole subsidiary. All material inter-company balances and transactions have been eliminated. Cash and Cash Equivalents The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. At December 31, 2014 and 2013, the Company has no cash equivalents. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Impairment on Long-Lived Assets and Other Acquired Intangible Assets We evaluate the recoverability of property and equipment and amortizable intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of these assets is measured by a comparison of the carrying amounts to the future non-discounted cash flows the assets are expected to generate. If such review indicates that the carrying amount of property and equipment and intangible assets is not recoverable, the carrying amount of such assets is reduced to fair value. In addition to the recoverability assessment, we routinely review the remaining estimated useful lives of property and equipment and amortizable intangible assets. If we reduce the estimated useful life assumption for any asset, the remaining unamortized balance would be amortized or depreciated over the revised estimated useful life. Advertising Costs Advertising costs are expensed as incurred. Earnings (Loss) Per Share The Company computes earnings per share in accordance with ASC 260, “Earnings Per Share”. Under the provisions of ASC 260, basic earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potentially dilutive common shares outstanding during the period. There were no potentially dilutive common shares outstanding during the period. Stock-Based Compensation We recognize compensation cost for stock-based awards issued after March 1, 2006, over the requisite service period for each separately vesting tranche, as if multiple awards were granted. Compensation cost is based on grant-date fair value using quoted market prices for our common stock. Income Taxes The Company accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Fair Value of Financial Instruments The Company considers that the carrying amount of financial instruments, including accounts payable, approximates fair value because of the short maturity of these instruments. Recently Issued Accounting Pronouncements The Company has adopted all recently issued accounting pronouncements. The adoption of the accounting pronouncements, including those not yet effective, is not anticipated to have a material effect on the financial position or results of operations of the Company.

Equity Transactions Disclosure

Equity Transactions Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Equity Transactions Disclosure	NOTE 4 - EQUITY TRANSACTIONS The Company has authorized 10,000,000 shares of preferred stock and 140,000,000 shares of Common Stock at par value of $0.001. At December 31, 2014 and 2013, the Company had 11,077,750 shares of common stock issued and outstanding. No preferred shares have been issued.

Loan Transaction Disclosure

Loan Transaction Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Loan Transaction Disclosure	NOTE 5 - LOAN TRANSACTION The Company purchased a recorded music compilation from Eugene Gant for a purchase price of $5,000 pursuant to a Bill of Sale and Assignment dated June 15, 2012, an Exclusive Songwriter Agreement dated June 15, 2012, and a Promissory Note that the Company concurrently executed and delivered to him on the same date. The Company made a payment to Mr. Gant in the amount of $1,000 on June 15, 2012 and $2,000 on October 1, 2012, and $1,000 on June 15, 2013, and there is one remaining principal installment payment in the amount of $1,000 due. The note is currently in default. This remaining $1,000 principal amount under Promissory Note bears interest at five percent (5%) per annum. Accrued and unpaid interest on the Promissory Note is also due in the amount of $60 as of December 31, 2014, and $79 as of December 31, 2013. As of December 31, 2014, total outstanding short-term debt is $1,222, and $1,162 as of December 31, 2013.

Related Party Transaction

Related Party Transaction	12 Months Ended
	Dec. 31, 2014
Notes
Related Party Transaction	NOTE 6 - RELATED PARTY TRANSACTION The Company has entered into transactions with the related party, IQ Acquisition (NY), Ltd, owned by Mr. Richards, the CEO of the Company. IQ Acquisition (NY), Ltd, the major shareholder of the Company, has paid expenses on behalf of the Company in the amount of $21,469 and $0 as of December 31, 2014 and 2013, respectively. The advances are payable on demand and carry no interest.

Material Contracts Disclosure

Material Contracts Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Material Contracts Disclosure	NOTE 7 - MATERIAL CONTRACTS On June 15, 2012, the Company entered into a songwriter agreement with EuGene Gant, a songwriter, which provides for Mr. Gant’s employment as a staff writer on an exclusive basis to write musical compositions as works for hire for a period of two years from the date of the agreement. This agreement expired on June 15, 2014. The exclusive songwriter agreement with Eugene B. Settler dated June 16, 2012, provides for Mr. Settler’s employment as a staff writer on an exclusive basis to write musical compositions as works for hire for a period of five years from the date of the agreement. This agreement expires on June 16, 2017. During Mr. Gant’s and Mr. Settler’s tenure as songwriters for the Company, the copyrights on their entire work product will belong to the Company, in exchange for our assistance in exploiting and marketing these compositions and the payment of a writer’s fee to them ranging from 10% to 50% of the net amounts that we collect on these musical compositions. The Company is entitled to the royalties for a period 50 years from the date of the creation of any work for hire pursuant to such agreements. After the expiration of such 50-year period, the copyright on a musical composition reverts to the songwriter or his heirs or assigns.

Intangible Assets Disclosure

Intangible Assets Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Intangible Assets Disclosure	NOTE 8 - INTANGIBLE ASSETS The Company has capitalized costs in acquiring intangible properties which consisted of the following at December 31, 2014 and December 31, 2013: December 31, 2014 December 31, 2013 Rights to Musical Compositions in BMI Catalog $ -- $ 500 Rights to Eugenius SOL Presents: Green and Healthy -- 5,000 Accumulated Amortization -- (458) Intangible Assets, Net $ -- $ 4,733 The music catalog rights of the Company were fully impaired as of 12/31/2014 because the Company changes the nature of business operation. On September 26, 2014 the company dissolved its subsidiary Astika Music Entertainment, Inc.

Income Taxes Disclosure

Income Taxes Disclosure	12 Months Ended
	Dec. 31, 2014
Notes
Income Taxes Disclosure	NOTE 9 - INCOME TAXES The Company provides for income taxes under ASC 740, “Income Taxes”. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 34% to the net loss before provision for income taxes for the following reasons: For the year ended December 31, 2014 For the year ended December 31, 2013 Income tax expense (asset) at statutory rate $ (56,156) $ (42,049) Valuation allowance 56,156 42,049 Income tax expense per books $ -- $ -- Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for the year ended December 31, 2014 was $(165,166) and (123,674) for the year ended December 31, 2013, and for federal income tax reporting purposes is subject to annual limitations. Should a change in our ownership occur the net operating loss carry forwards may be limited as to their use in future years.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2014
Notes
Subsequent Event	NOTE 10 - SUBSEQUENT EVENT On June 4 2015, Artfield Investment RD, Inc. is contracted to provide consulting services to the Company for $45,000. Consultation fee shall be payable $22,500 in cash at the time of signing (6/4/2015), and the remaining fee of $22,500 should be paid through unrestricted shares. The shares haven't been issued as of the reporting date.

Summary of Significant Accoun17

Summary of Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared by the Company. The Company’s financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The financial statements of the Company include the Company and its sole subsidiary. All material inter-company balances and transactions have been eliminated.

Summary of Significant Accoun18

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Cash and Cash Equivalents Policy	Cash and Cash Equivalents The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. At December 31, 2014 and 2013, the Company has no cash equivalents.

Summary of Significant Accoun19

Summary of Significant Accounting Policies: Use of Estimates Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Use of Estimates Policy	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Summary of Significant Accoun20

Summary of Significant Accounting Policies: Impairment On Long-lived Assets and Other Acquired Intangible Assets Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Impairment On Long-lived Assets and Other Acquired Intangible Assets Policy	Impairment on Long-Lived Assets and Other Acquired Intangible Assets We evaluate the recoverability of property and equipment and amortizable intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of these assets is measured by a comparison of the carrying amounts to the future non-discounted cash flows the assets are expected to generate. If such review indicates that the carrying amount of property and equipment and intangible assets is not recoverable, the carrying amount of such assets is reduced to fair value. In addition to the recoverability assessment, we routinely review the remaining estimated useful lives of property and equipment and amortizable intangible assets. If we reduce the estimated useful life assumption for any asset, the remaining unamortized balance would be amortized or depreciated over the revised estimated useful life.

Summary of Significant Accoun21

Summary of Significant Accounting Policies: Advertising Costs Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Advertising Costs Policy	Advertising Costs Advertising costs are expensed as incurred.

Summary of Significant Accoun22

Summary of Significant Accounting Policies: Earnings (loss) Per Share Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Earnings (loss) Per Share Policy	Earnings (Loss) Per Share The Company computes earnings per share in accordance with ASC 260, “Earnings Per Share”. Under the provisions of ASC 260, basic earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potentially dilutive common shares outstanding during the period. There were no potentially dilutive common shares outstanding during the period.

Summary of Significant Accoun23

Summary of Significant Accounting Policies: Stock-based Compensation Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Stock-based Compensation Policy	Stock-Based Compensation We recognize compensation cost for stock-based awards issued after March 1, 2006, over the requisite service period for each separately vesting tranche, as if multiple awards were granted. Compensation cost is based on grant-date fair value using quoted market prices for our common stock.

Summary of Significant Accoun24

Summary of Significant Accounting Policies: Income Taxes Policy (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Income Taxes Policy	Income Taxes The Company accounts for income taxes as outlined in ASC 740, “Income Taxes”. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.

Summary of Significant Accoun25

Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company considers that the carrying amount of financial instruments, including accounts payable, approximates fair value because of the short maturity of these instruments.

Summary of Significant Accoun26

Summary of Significant Accounting Policies: Recently Issued Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company has adopted all recently issued accounting pronouncements. The adoption of the accounting pronouncements, including those not yet effective, is not anticipated to have a material effect on the financial position or results of operations of the Company.

Intangible Assets Disclosure_ S

Intangible Assets Disclosure: Schedule of Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Intangible Assets	December 31, 2014 December 31, 2013 Rights to Musical Compositions in BMI Catalog $ -- $ 500 Rights to Eugenius SOL Presents: Green and Healthy -- 5,000 Accumulated Amortization -- (458) Intangible Assets, Net $ -- $ 4,733

Income Taxes Disclosure_ Schedu

Income Taxes Disclosure: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	For the year ended December 31, 2014 For the year ended December 31, 2013 Income tax expense (asset) at statutory rate $ (56,156) $ (42,049) Valuation allowance 56,156 42,049 Income tax expense per books $ -- $ --

Equity Transactions Disclosure

Equity Transactions Disclosure (Details) - $ / shares	Dec. 31, 2014	Dec. 31, 2013
Details
Authorized preferred shares	10,000,000	10,000,000
Authorized common shares	140,000,000	140,000,000
Common stock par value per share	$ 0.001	$ 0.001
Common shares issued and outstanding	11,077,750	11,077,750

Loan Transaction Disclosure (De

Loan Transaction Disclosure (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Repayment of debt		$ 1,000
Accrued and unpaid interest	$ 60	79
Loan payable	$ 1,222	$ 1,162

Related Party Transaction (Deta

Related Party Transaction (Details)	Dec. 31, 2014USD ($)
Details
Due to related parties	$ 21,469

Material Contracts Disclosure (

Material Contracts Disclosure (Details)	60 Months Ended
	Jun. 16, 2017
Details
Song Writer Agreement	During Mr. Gant’s and Mr. Settler’s tenure as songwriters for the Company, the copyrights on their entire work product will belong to the Company, in exchange for our assistance in exploiting and marketing these compositions and the payment of a writer’s fee to them ranging from 10% to 50% of the net amounts that we collect on these musical compositions.

Intangible Assets Disclosure_33

Intangible Assets Disclosure: Schedule of Intangible Assets (Details)	Dec. 31, 2013USD ($)
Details
Rights to Musical Compositions	$ 5,000
Accumulated amortization of intangible assets	(458)
Intangible assets, net	$ 4,733

Income Taxes Disclosure_ Sche34

Income Taxes Disclosure: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Income tax expense (asset) at statutory rate	$ (56,156)	$ (42,049)
Income tax provision, valuation allowance	$ 56,156	$ 42,049

Income Taxes Disclosure (Detail

Income Taxes Disclosure (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Details
Net operating loss carry forwards	$ 165,166	$ 123,674

Subsequent Event (Details)

Subsequent Event (Details)	Jun. 04, 2015USD ($)
Details
Cash payment for consulting services contract	$ 22,500
Value of unrestricted shares due for consulting services contract	$ 22,500